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By Julien Mercille, Enda Murphy

From financial institution bailouts to austerity, Europe's and Ireland's reaction to the industrial main issue has been engineered particularly to shift the weight of purchasing the obstacle onto usual electorate whereas traders, financiers, bankers and the privileged are secure. The authors divulge the class-based nature of Ireland's problem solution.

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Extra info for Deepening Neoliberalism, Austerity, and Crisis: Europe’s Treasure Ireland

Sample text

Although Whitaker is lauded for his economic expansion plan, what is less often cited is the fact that the plan also advocated the gradual relaxation of rent controls to ‘encourage the greater and more economical use of the existing stock of houses’, the first step of which involved removing rent control from investor-held housing and ‘houses newly converted into self-contained flats’. Thus, already in 1958, the seeds were being sown for housing to be transformed into a commodity rather than an essential human need (Government of Ireland, 1958a: 8).

Moreover, the creation of the euro has also brought significant benefits to European business and financial elites (see Chapter 4). Similar criticisms apply to two other recent articles using the VoC approach to understand the European crisis. Weber and Schmitz (2011) explore the determinants and nature of bank rescue packages in the EU during the crisis and seek to locate them in countries’ different institutional, economic and political characteristics. Lallement (2011: 627) examines the effect of the crisis on employment in Europe and concomitant adjustment mechanisms in the labour market and argues that different types of adjustment ‘reflect the persistence of three varieties of capitalism in Europe’.

As mentioned earlier, scholarship on Ireland has largely failed to relate regulatory restructuring to the broader meta-narrative of neoliberalisation processes at the global level (notable exceptions are Allen [2007, 2009], Allen and O’Boyle [2013], Fraser et al. [2013] and Ó Riain [2014]). , 2012). Our analysis takes a longer-term perspective identifying nascent neoliberalism within neo-Keynesian regulatory and institutional restructuring in the early 1960s that was framed by the emerging global rule regimes of international institutions such as the International Monetary Fund (IMF), World Bank, European Economic Community (EEC), Organisation for Economic Co-operation and Development (OECD), international trade organisations such as General Agreement on Tariffs and Trade (GATT) (and later World Trade Organisation, WTO), as well as the early European Free Trade Association (EFTA).

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